A market-oriented economic system provides an environment that fosters the formation, development, and transformation of ideas into useful products and services.

Question

Quizplus · Accepted Answer

A market-oriented economic system relies on the interaction of supply and demand to determine prices and allocate resources, which creates incentives for entrepreneurs and innovators to identify and respond to opportunities in the market. This encourages the development and commercialization of new products and services that meet consumer demand and can lead to economic growth and prosperity.

A Market-Oriented Economic System Provides an Environment That Fosters the Formation